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Anheuser-Busch's Profit Falls 9.9%

Anheuser-Busch Co.'s second-quarter net income fell 9.9%, as the brewer continued to be hampered by volume declines amid stiffer competition from rivals.

The St. Louis maker of Budweiser and Michelob beer also gave a weak outlook for the rest of the year, but said it would raise prices only once in 2006, rather than its usual twice-a-year price increases. Chief Financial Officer Randy Baker said the change was designed to...